🙅♀️ What to do when Investors Say No? Think Outside The Box 📦 with Tanya Van Court, founder Goalsetter
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"Even before I thought about partnerships in general, one of the things I realized as a black woman-led company, no one was going to fund me. I had to figure out how to get distribution with the minimal amount of funding I could possibly conceive of. You gotta figure out how to go over, how to go under, how to go around, how to go through…. whatever you have to do. Because there will be obstacles, make no mistakes about it. That’s when we started thinking about partnerships and started thinking about which partnerships will be the most strategic and the most important for us." - Tanya Van Court
Hey, It's Alex!
"We love your idea, but"...
[you're just too early]
[we need to see more traction]
[this seems like a lifestyle business]
[insert another dagger to your heart here]
How many of you have gotten an investor no without them saying the word 'no'?
Look - I've heard it all. An investor literally strung me along for 6 months before I knew how to value my time.
But it's not about the no. What you do with the no is what matters.
What you'll find in this traction briefing:
How to master large-scale distribution with limited funding.
How to create mutually beneficial partnerships using the right strategies.
How to get influencer support from major celebrities and billionaire philanthropists like Robert F. Smith, Kevin Durant, and Ciara.
Recession-Proof Your Business
Founder: Tanya Van Court | Company: Goalsetter | Location: New York, NY
Where was she before GOALSETTER?
Where wasn't she? Tanya has had a successful corporate career in the media. She worked at Discovery Media and led the marketing launch of digital textbooks into classrooms across the country. She also led the launch of ESPN 3, the first digital video streaming player even before the big players like HBO Now and HBO Go. Later she went to Nickelodeon where she ran nickjunior.com and learned how to create content that's engaging, exciting and educational.
Problem
Tanya created Goalsetter from her desire to give her children the financial education she didn't have access to growing up. Goalsetter was created to give kids the financial tools and real-life application to help them do what they need to do today but prepare them for the things they need to do with money tomorrow. With time, parents were realizing that their kids now knew more about money than they did, and they also had a need for their services. They were then able to expand their reach beyond kids to include the whole fam.
Here's what you'll learn...
How To Master Large Scale Distribution With Limited Funding
What Else Can You Do?: So investors aren't knocking on your door - whatelsecan
youdo? Lack of funding - especially at the idea stage is a setback that 99% of founders will face. So how can you improve demand?
Lesson - Master distribution! As Tanya schooled us on, you gotta figure out how to go over, how to go under, how to go around, how to go through…. whatever you have to do - do it! For Tanya, her strategy like many successful founders was in partnerships that would fill in the distribution gap that funding would have filled. Learn how to build partnerships and scale your business here.
Here is a master breakdown in distribution strategies for both B2B & B2C.
How To Secure Impactul Partnerships Using The Right Strategies
Live In Your Partner's Shoes: Securing the right partnerships is no walk in the park. You'll hear more no's than you probably will ever hear. It's actually super similar to finding investors. Perhaps the best strategy to reduce the rejections is to think about what your business will accomplish with your partner, not just what you need from a partner. Nobody wants to date the taker. It's the same in business :)
Lesson - "Nobody wants to partner with you because they think you’re brilliant or excited about your product, or because they are your friend. Those are not reasons to partner. The only reason people want to partner with you is because you are going to make them money. You are either going to grow their customer base, you are either going to help their bottom line in some way, or you are going to help their strategic goals" - Tanya Van Court. Do we need to need to say more? Partners and investors want to make money as much as you do - show them exactly how your business will help them do that. Here are a few pointers to help you nail your next investor pitch.
Here are pointers on how partnerships will make your company better.
How To Get Influencer Support From Major Celebrities and Billionaire Philanthropists
Pay Attention To Every Interaction: How do you get celebrities to endorse your product/service? It's about nurturing every single interaction you have, no matter how big or small. You never know who will become your greatest allies.
Lesson - Tanya was able to get celebrities and philanthropists to back Goalsetter by nurturing every single interaction she had with people within her network. This opened up doors for her that she would not have access to otherwise. Everyone you come across could present an opportunity down the road. Always come with your A-game and be prepared to sell your idea to every single person. You never know who might open that door for you! Learn how to engage with influencers, celebrities, and billionaires, while forming strong partnerships here.
Here's Your Weekly Tea
Recession-Proof Your Business
If you haven't heard the recession rumors - where you at friend?! With plunging stocks and 40-year high inflation, it seems inevitable. Whether it's here or not, here are a few ways to recession-proof your business.
Reduce Your Spending: Finances can be hard to come by for most businesses - even without a recession. But with difficult financial times comes tough measures. Keep laser-focused on your expenses and trim down to the essentials.
Focus On Profitability: While previously money-losing startups like WeWork were still able to capture investor attention, the tides have turned. Whether you are fundraising or NOT, your company should always be thinking about a path toward profitability. It's not just about investor returns, it's about founder returns too. Show me the money!
Show Leadership: Recessions are a hard time for cash-strapped founders. It might be time to make some tough decisions but strong leadership is needed now more than ever. Be open and transparent with your team. You might be surprised by the ideas they come up with with you.
Key Takeaway: Tough times create gems. Although recessions do not leave anyone unscathed, they are temporary. Before then, work to create a solid foundation for your business and keep your eyes focused on the ultimate goal.
TRACTION TOOLS: How to get it done...
Apply to Cohort 9 of the Accelerator: Ready to take your traction to the next level? Apply to Cohort 9 now launching June 21st here.
Build & Scale Partnerships: Learn how to do it when you have $0 for marketing here.
Traction Tracker: Build a traction strategy that will help you increase revenues 5000%, add $2.3M to the revenue pipeline, and secure $100,000 in pre-sales revenue. Access our traction tracker here.
How to NOT get screwed in a Partnership: Learn how this queen navigated a $7M loss here.
Strategic Partnerships: Learn how strategic partnerships scaled a cash-strapped startup here.
Growth-Hacking Tips: 12 tips to help you develop unique strategies to convert more leads and generate more sales.
How to Turn an Investor No Into a Yes: With consent, of course ;) Check it out here.
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